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%20LIMITED%20-%20490490%2009-Feb-2018_files/image015.jpg){kind=small}
%20LIMITED%20-%20490490%2009-Feb-2018_files/image016.jpg)
%20LIMITED%20-%20490490%2009-Feb-2018_files/image018.gif)
MIRA INFORM REPORT
|
Report No. : |
490490 |
|
Report Date : |
09.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
INTERNATIONAL COMBUSTION (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
Infinity Benchmark, 11th Floor, Plot No. G-1, Block EP and GP, Sector - V, Salt Lake Electronics Complex, Kolkata – 700091, West Bengal |
|
Tel. No.: |
91-33-33153000 |
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|
|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
22.04.1936 |
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|
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Com. Reg. No.: |
21-008588 |
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|
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Capital
Investment / Paid-up Capital : |
INR 23.903 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L36912WB1936PLC008588 |
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|
|
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IEC No.: |
Not Divulged |
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|
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GSTIN : |
Not Divulged |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI6774J |
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|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges |
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|
|
|
Line of Business
: |
Manufacture of heavy engineering equipment, geared motors
and gear boxes and dry mix products. [Registered Activity] |
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|
|
|
No. of Employees
: |
479 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
|
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1936 having fine track record. As per the financial year 2017, the company has achieved marginal growth in its revenue as compared to its previous year along with improved profitability margin during the year. Rating takes into consideration, the healthy financial risk profile marked by adequate net worth base and strong debt protection metrics. Rating continue to derive strength from its long and established track record of its business operations backed by its well experienced management team and strong financial support from its holding entity. The company is listed on BSE and its price is held at INR 520.00 against its face value of INR 10. Further as per unaudited H1 FY-2018, the company has reported net loss of INR 56.500 million on an operating income of INR 398.300 million. However, these rating strengths gets partially offset by the company’s exposure to cyclicality inherent in the capital goods industry and vulnerability of margins to fluctuations in raw-material prices. Payments are seems to be regular. In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based Limits = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
19.12.2017 |
|
|
|
|
Rating Agency Name |
ICRA |
|
Rating |
Non-fund based Limits = A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
19.12.2017 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 09.02.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
Management Non-Cooperative (Tel. No.91-33-33153000)
LOCATIONS
|
Registered Office /
Corporate Office : |
Infinity Benchmark, 11th Floor, Plot No. G-1, Block EP and GP, Sector - V, Salt Lake Electronics Complex, Kolkata – 700091, West Bengal, India |
|
Tel. No.: |
91-33-33153000 |
|
Fax No.: |
91-33-23576653 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Baidyabati: 156
(371), G. T. Road, Baidyabati, District Hooghly – 712222, West Bengal, India |
|
|
|
|
Factory 2 : |
Nagpur: L-7,
MIDC, Industrial Area, Hingna, Nagpur – 440016, Maharashtra, India |
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|
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Factory 3 : |
Aurangabad: B-74/1, MIDC Waluj, P.O. Bajaj Nagar, Aurangabad – 431136,
Maharashtra, India |
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|
|
|
Factory 4 : |
Ajmer: Plot No. B-300, Ajaymeru Palra Industrial Area, Ajmer – 305002, Rajasthan, India |
|
|
|
|
Regional /
Branch Offices : |
Aurangabad : B-74/1, MIDC
Waluj, P.O. Bajaj Nagar, Aurangabad – 431136, Maharashtra, India Tel. No.:
91-240-2553099 E-mail: abadworks@internationalcombustion.in
Bangalore : No. 548/51, 2nd
Floor, Andal Temple, R. V. Road, Basavangudi, Bangalore – 560004, Karnataka,
India Tel. No.:
91-80-26575258 E-mail: bangaloreoffice@internationalcombustion.in Chennai : Modern Towers,
5th Floor, No. 23, West Cott Road, Royapettah Chennai – 600014, West Bengal,
India Tel. No.: 91-44-28485367 E-mail: chennaioffice@internationalcombustion.in Hyderabad : Flat No.303,
Bhanu Enclave, 7-1- 638 to 643 Sundar Nagar, Hyderabad – 500038, Telangana,
India Tel. No.:
91-40-23820546 E-mail: hyderabadoffice@internationalcombustion.in
Mumbai : Khanna
Construction House, 44, Dr. R. G. Thadani Marg, Worli, Mumbai – 400018,
Maharashtra, India Tel. No.:
91-22-24934192 E-mail: mumbaioffice@internationalcombustion.in
407, Acme Plaza, 4th Floor, B-Wing, Andheri Kurla Road, Opposite Sangam Theatre, Andheri (East), Mumbai – 400059, Maharashtra, India Nagpur : L-7, MIDC Industrial
Area, Hingna, Nagpur – 440016, Maharashtra, India Tel. No.:
91-7104-237613 E-mail: nagpuroffice@internationalcombustion.in
New Delhi : 2E/28,
Jhandewalan Extn., New Delhi – 110055, India Tel. No.:
91-11-23520476 E-mail: delhioffice@internationalcombustion.in
Pune : D 407, Business
Court, Mukund Nagar, Pune – 411037, Maharashtra, India Tel. No.:
91-20-24264257 E-mail: puneoffice@internationalcombustion.in
Vadodara : 307, 3rd Floor, Opal Square Building, Behind hotel Express,
R. C. Dutta Road, Alkapuri, Vadodara – 390020, Gujarat, India Tel. No.: 91-265-2321626 E-mail: vadodaraoffice@internationalcombustion.in
Chennai (Madras) : The Ploygon, 2nd Floor, Door No. 56/142, Anna Salai Saidapet, Chennai (Madras) – 600032, Tamilnadu, India Jamshedpur : 4th Floor, Office No. 4, H. No. 5, Line No. 2, S.B. Shop
Area, Meghdeep Building, Q. Road, Bistupur, Jamshedpur – 831001, Jharkhand,
India |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Sanjay Bagaria |
|
Designation : |
Chairman |
|
Address : |
7, Ashoka Road, Kolkata – 700027, West Bengal, India |
|
Date of Birth/Age : |
01.06.1962 |
|
Qualification : |
B.Com |
|
Experience : |
24 years’ Experience in Corporate Management |
|
Date of Appointment : |
15.04.1989 |
|
DIN No.: |
00233455 |
|
|
|
|
Name : |
Mr. Indrajit Sen |
|
Designation : |
Managing Director |
|
Address : |
2-B, Alpha Apartment, 717, New Alipore, Block P, Kolkata – 700053, West
Bengal, India |
|
Date of Birth/Age : |
02.12.1939 |
|
Qualification : |
B.E. (Mech.) |
|
Experience : |
50 years’ experience in Engineering Industry and Corporate Management |
|
Date of Appointment : |
01.05.2012 |
|
DIN No.: |
00216190 |
|
|
|
|
Name : |
Mr. Ratan Lal Gaggar |
|
Designation : |
Director |
|
Address : |
11, Lansdown Road, Sarat Bose Road, Kolkata – 700020, West Bengal,
India |
|
Date of Birth/Age : |
01.12.1932 |
|
Qualification : |
B.A. (Hons.), LLB |
|
Experience : |
Solicitor and Advocate |
|
Date of Appointment : |
11.01.1989 |
|
DIN No.: |
00066068 |
|
|
|
|
Name : |
Mr. Ravi Ranjan Prasad |
|
Designation : |
Director |
|
Address : |
Floor 7, Flat 14A 82/9, Ballygunge Place, Kolkata-700019, West Bengal, India |
|
Date of Appointment : |
25.07.2014 |
|
DIN No.: |
00030458 |
|
|
|
|
Name : |
Mrs. Bharati Ray |
|
Designation : |
Director |
|
Address : |
6B, Sonali Apartments 8/2A, Alipore Park Road, Kolkata-700027, West Bengal, India |
|
Date of Appointment : |
07.04.2015 |
|
DIN No.: |
06965340 |
KEY EXECUTIVES
|
Name : |
Mr. Asish Kumar Neogi |
|
Designation : |
Company Financial Officer (KMP) |
|
Address : |
Chandramouli 229, Shanti Pally, Rajdanga, Kolkata-700107, West Bengal, India |
|
Date of Appointment : |
01.02.2015 |
|
PAN No.: |
ABQPN7815D |
|
|
|
|
Name : |
Mr. Suhas Chandra Saha |
|
Designation : |
Company Secretary |
|
Address : |
Ha-8, Sector III, Salt Lake, Bidhannagar, Kolkata-700097, West Bengal, India |
|
Date of Appointment : |
12.01.1982 |
|
PAN No.: |
AIRPS2197R |
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Board Committees : |
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Audit Committee : |
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Share Transfer and
Stakeholders’ Relationship Committee : |
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Nomination and
Remuneration Committee : |
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Corporate Social
Responsibility (CSR) Committee : |
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Risk Management
Committee : |
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SHAREHOLDING PATTERN
AS ON 31.12.2017
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
(A) Promoter & Promoter Group |
1261931 |
52.79 |
|
|
(B) Public |
1128345 |
47.21 |
|
|
Grand Total |
2390276 |
100.00 |
%20LIMITED%20-%20490490%2009-Feb-2018_files/image019.gif)
STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PROMOTER AND PROMOTER
GROUP
|
Category of shareholder |
Total nos. shares held |
Shareholding as a % of total no. of
shares (calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu undivided Family |
141400 |
5.92 |
|
|
Sanjay Bagaria |
43900 |
1.84 |
|
|
Shiva Prasad Bagaria |
27300 |
1.14 |
|
|
Purnima Bagaria |
39600 |
1.66 |
|
|
Sanjay Bagaria (HUF) |
20600 |
0.86 |
|
|
Shiva Prasad Bagaria (HUF) |
8200 |
0.34 |
|
|
Satyam Bagaria |
1800 |
0.08 |
|
|
Any Other (specify) |
1120531 |
46.88 |
|
|
Amulyanidhi India Limited |
82099 |
3.43 |
|
|
Primestar Exim Private Limited |
92100 |
3.85 |
|
|
Wool Worth Merchandise Private Limited |
170609 |
7.14 |
|
|
Tradelink Securities Limited |
343703 |
14.38 |
|
|
Amravati Eximp Limited |
62336 |
2.61 |
|
|
Stephen Court Limited |
279088 |
11.68 |
|
|
Mahadeo Jute and Industries Limited |
85696 |
3.59 |
|
|
Lakshmi Farms Private Limited |
4900 |
0.20 |
|
|
Sub Total A1 |
1261931 |
52.79 |
|
|
A2) Foreign |
0.00 |
||
|
A=A1+A2 |
1261931 |
52.79 |
STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PUBLIC SHAREHOLDER
|
Category & Name of the Shareholders |
Total no. shares held |
Shareholding % calculated as per SCRR,
1957 As a % of (A+B+C2) |
|
|
B1) Institutions |
0.00 |
||
|
Financial Institutions/ Banks |
251 |
0.01 |
|
|
Sub Total B1 |
251 |
0.01 |
|
|
B2) Central Government/ State Government(s)/ President of India |
0.00 |
||
|
B3) Non-Institutions |
0.00 |
||
|
Individual share capital upto INR 0.200 Million |
960213 |
40.17 |
|
|
Individual share capital in excess of INR 0.200 Million |
47500 |
1.99 |
|
|
Utsav Pramodkumar Shrivastav |
25000 |
1.05 |
|
|
Any Other (specify) |
120381 |
5.04 |
|
|
Bodies Corporate |
56125 |
2.35 |
|
|
NRI – Repat |
18942 |
0.79 |
|
|
NRI – Non- Repat |
19886 |
0.83 |
|
|
Clearing Members |
4301 |
0.18 |
|
|
Investor Education and Protection Fund Authority, Ministry of Corporate Affairs, Government of India |
21127 |
0.88 |
|
|
Sub Total B3 |
1128094 |
47.20 |
|
|
B=B1+B2+B3 |
1128345 |
47.21 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of heavy engineering equipment, geared motors
and gear boxes and dry mix products. [Registered Activity] |
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Products / Services
: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
479 (Approximately) |
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Bankers : |
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Facilities : |
Note: LONG TERM BORROWINGS (a) Term Loan from Kotak Bank is secured by way of lien on investments in units of mutual fund held by the Company and is repayable in 60 monthly instalments starting from January, 2016. (b) Term Loan from Axis Bank is secured by way of exclusive hypothecation charge over movable fixed assets at Ajmer unit, equitable mortgage over Company's leasehold land and building thereon situated at Ajmer and second charge as collateral securities by way of equitable mortgage on immovable assets located at Nagpur and Aurangabad units on which first charge is held for working capital facilities for Nagpur and Aurangabad units. (c) Repayment details of Term loan are given below: (INR in million)
(d) Interest Rate of Term Loan - Axis (Base Rate + 2.50%) = 12.00% Kotak - (Base Rate + 1.85%) = 11.35% e) Finance lease obligation is secured against car taken on two finance lease and are repayable in 60 and 36 monthly instalments starting from July, 2014 and March, 2016 respectively (f) Repayment details of Vehicle Finance loan are given below:
(g) Interest Rate of Vehicle Finance loan = 10.51% and 9.4% SHORT TERM BORROWINGS (a) Cash Credit from UCO Bank and Axis Bank are secured by hypothecation of stock of raw materials, work-in-progress, finished goods, stores and spares, book debts and other current assets of the Company and all moveable assets and by equitable mortgage by deposit of title deeds of immovable properties comprising of land and buildings of the Company’s factories situated at Nagpur and Aurangabad. (b) Cash Credit from Kotak Mahindra Bank is secured by way of lien on investments in units of mutual funds held by the Company. (c) Buyer’s Credit is secured against hypothecation of the plant and equipment purchased there against. |
|
Auditor 1 : |
|
|
Name : |
Lodha and Company Chartered Accountants |
|
Address : |
14, Government Place East, Kolkata - 700069, West Bengal, India |
|
Tel. No.: |
91-33-22481111 / 1507 / 6962 |
|
Fax No.: |
91-33-22486960 |
|
E-Mail : |
|
|
PAN No.: |
AABFL1894Q |
|
|
|
|
Auditor 2 : |
|
|
Name : |
Ray and Ray Chartered Accountants |
|
Address : |
Webel Bhavan, Ground Floor, Block -
EP and GP, Sector V, Salt Lake, Kolkata-700091, West Bengal, India |
|
Tel. No.: |
91-33-40648107 / 8108/ 8109 |
|
E-Mail : |
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|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Joint Venture
Company : |
Mozer Process Technology Private Limited, India CIN No.: U29253WB2013PTC193621 |
CAPITAL STRUCTURE
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
INR 10/- each |
INR 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2390276 |
Equity Shares |
INR 10/- each |
INR 23.903 Million |
|
|
|
|
|
(a) The Company has only one class of equity shares having a par value of 10/- each. Each holder of equity shares is entitled for one vote per share.
(b) In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the company, after distribution of all preferential amounts in proportion of their shareholding.
(c) There is no movement in the number of shares outstanding at the beginning and at the end of the year.
(d) Details of Shareholders holding more than 5% of the shares alongwith number of shares held:
|
Name of the
Shareholder |
No. of shares |
|
Tradelink Securities Limited |
343703 |
|
Stephen Court Limited |
279088 |
|
Woolworth Merchandise Private Limited |
170609 |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
23.903 |
23.903 |
23.903 |
|
(b) Reserves &
Surplus |
902.381 |
894.296 |
899.421 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
926.284 |
918.199 |
923.324 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
197.138 |
240.727 |
66.668 |
|
(b) Deferred tax
liabilities (Net) |
15.778 |
13.218 |
26.009 |
|
(c) Other long term
liabilities |
0.000 |
8.144 |
0.000 |
|
(d) long-term provisions |
10.165 |
7.215 |
6.099 |
|
Total Non-current
Liabilities (3) |
223.081 |
269.304 |
98.776 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
95.495 |
73.545 |
60.813 |
|
(b) Trade payables |
187.041 |
129.013 |
159.566 |
|
(c) Other current
liabilities |
154.834 |
116.384 |
106.652 |
|
(d) Short-term provisions |
15.705 |
10.611 |
9.836 |
|
Total Current Liabilities
(4) |
453.075 |
329.553 |
336.867 |
|
|
|
|
|
|
TOTAL |
1602.440 |
1517.056 |
1358.967 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
498.881 |
384.792 |
274.101 |
|
(ii) Intangible Assets |
6.041 |
1.463 |
3.902 |
|
(iii) Capital
work-in-progress |
7.023 |
57.764 |
9.551 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
155.000 |
185.000 |
205.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
15.308 |
23.641 |
12.906 |
|
(e) Other Non-current
assets |
53.156 |
16.898 |
7.245 |
|
Total Non-Current Assets |
735.409 |
669.558 |
512.705 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
95.000 |
65.000 |
55.000 |
|
(b) Inventories |
303.843 |
296.415 |
319.567 |
|
(c) Trade receivables |
391.644 |
414.999 |
392.317 |
|
(d) Cash and cash
equivalents |
25.449 |
26.742 |
30.426 |
|
(e) Short-term loans and
advances |
49.493 |
42.667 |
47.181 |
|
(f) Other current assets |
1.602 |
1.675 |
1.771 |
|
Total Current Assets |
867.031 |
847.498 |
846.262 |
|
|
|
|
|
|
TOTAL |
1602.440 |
1517.056 |
1358.967 |
PROFIT
& LOSS ACCOUNT [STANDALONE]
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
984.215 |
933.267 |
886.853 |
|
|
Other Income |
69.968 |
15.686 |
20.743 |
|
|
TOTAL |
1054.183 |
948.953 |
907.596 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
429.331 |
430.657 |
405.094 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.884 |
10.969 |
(18.960) |
|
|
Employees benefits
expense |
309.407 |
282.581 |
270.334 |
|
|
Other expenses |
215.132 |
194.852 |
191.227 |
|
|
TOTAL |
954.754 |
919.059 |
847.695 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
99.429 |
29.894 |
59.901 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
38.094 |
8.870 |
8.623 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
61.335 |
21.024 |
51.278 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
50.690 |
38.834 |
45.050 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
10.645 |
(17.810) |
6.228 |
|
|
|
|
|
|
|
Less |
TAX |
2.560 |
(12.685) |
(3.554) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
8.085 |
(5.125) |
9.782 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
14.539 |
19.664 |
14.717 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General
Reserve |
0.000 |
0.000 |
0.500 |
|
|
Proposed Dividend |
0.000 |
0.000 |
3.585 |
|
|
Tax on Proposed Dividend |
0.000 |
0.000 |
0.750 |
|
|
Total |
0.000 |
0.000 |
4.835 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
22.624 |
14.539 |
19.664 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
98.777 |
104.767 |
84.497 |
|
|
Others |
0.393 |
0.519 |
0.046 |
|
|
TOTAL EARNINGS |
99.170 |
105.286 |
84.543 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Components and Spares |
41.674 |
19.700 |
21.964 |
|
|
Capital Goods |
0.556 |
24.625 |
0.000 |
|
|
TOTAL IMPORTS |
42.230 |
44.325 |
21.964 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
3.38 |
(2.14) |
4.09 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
62.383 |
38.967 |
2.726 |
|
Cash generated from/(used in) operations |
130.814 |
(60.981) |
(31.885) |
|
Net Cash from /(used in) operating activities |
131.830 |
(55.441) |
(33.285) |
QUARTERLY
RESULTS
|
PARTICULARS |
30.06.2017 1st
Quarter |
30.09.2017 2nd
Quarter |
31.12.2017 3rd
Quarter |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
|
|
|
|
|
Net Sales |
121.330 |
277.000 |
293.450 |
|
Total Expenditure |
159.670 |
268.660 |
273.790 |
|
PBIDT (Excluding Other Income) |
(38.340) |
8.340 |
19.660 |
|
Other Income |
17.090 |
(1.740) |
7.070 |
|
Operating Profit |
(21.250) |
6.600 |
26.730 |
|
Interest |
10.580 |
9.910 |
8.560 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
(31.830) |
(3.310) |
18.170 |
|
Depreciation |
13.150 |
13.200 |
12.710 |
|
Profit Before Tax |
(44.980) |
(16.510) |
5.460 |
|
Tax |
(1.200) |
(3.800) |
0.440 |
|
Provisions and contingencies |
NA |
NA |
NA |
|
Profit After Tax |
(43.770) |
(12.720) |
5.020 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
(43.770) |
(12.720) |
5.020 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors
/ Income * 365) |
145.24 |
162.31 |
161.46 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
2.51 |
2.25 |
2.26 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
159.01 |
109.34 |
143.77 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.33 |
0.10 |
0.19 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.19 |
0.07 |
0.21 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.44 |
0.40 |
0.30 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.38 |
0.38 |
0.14 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.49 |
0.36 |
0.36 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.55 |
0.48 |
0.31 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.61 |
3.37 |
6.95 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
% |
0.82 |
(0.55) |
1.10 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
0.50 |
(0.34) |
0.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
0.87 |
(0.56) |
1.06 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.91 |
2.57 |
2.51 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
1.24 |
1.67 |
1.56 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.58 |
0.61 |
0.68 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
14.85 |
14.78 |
5.45 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.91 |
2.57 |
2.51 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 10.00/- |
|
Market Value |
INR 520.00/- |
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
23.903 |
23.903 |
23.903 |
|
Reserves & Surplus |
899.421 |
894.296 |
902.381 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
923.324 |
918.199 |
926.284 |
|
|
|
|
|
|
long-term borrowings |
66.668 |
240.727 |
197.138 |
|
Short term borrowings |
60.813 |
73.545 |
95.495 |
|
Current Maturities of
Long term debt |
2.726 |
38.967 |
62.383 |
|
Total borrowings |
130.207 |
353.239 |
355.016 |
|
Debt/Equity ratio |
0.141 |
0.385 |
0.383 |
%20LIMITED%20-%20490490%2009-Feb-2018_files/image021.gif)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
886.853 |
933.267 |
984.215 |
|
|
|
5.234 |
5.459 |
%20LIMITED%20-%20490490%2009-Feb-2018_files/image023.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
886.853 |
933.267 |
984.215 |
|
Profit / (Loss) |
9.782 |
(5.125) |
8.085 |
|
|
1.10% |
(0.55%) |
0.82% |
%20LIMITED%20-%20490490%2009-Feb-2018_files/image025.gif)
ABRIDGED
BALANCE SHEET [CONSOLIDATED]
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
23.903 |
23.903 |
|
(b) Reserves &
Surplus |
|
899.356 |
887.966 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
923.259 |
911.869 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
197.138 |
240.727 |
|
(b) Deferred tax
liabilities (Net) |
|
15.778 |
13.218 |
|
(c) Other long term
liabilities |
|
0.000 |
8.144 |
|
(d) long-term provisions |
|
10.165 |
7.215 |
|
Total Non-current
Liabilities (3) |
|
223.081 |
269.304 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
95.495 |
73.545 |
|
(b) Trade payables |
|
187.059 |
129.130 |
|
(c) Other current
liabilities |
|
154.842 |
117.743 |
|
(d) Short-term provisions |
|
15.695 |
10.594 |
|
Total Current Liabilities
(4) |
|
453.091 |
331.012 |
|
|
|
|
|
|
TOTAL |
|
1599.431 |
1512.185 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
498.881 |
384.792 |
|
(ii) Intangible Assets |
|
6.044 |
1.468 |
|
(iii) Capital
work-in-progress |
|
7.023 |
57.764 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
150.000 |
180.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
15.308 |
23.641 |
|
(e) Other Non-current
assets |
|
53.156 |
16.898 |
|
Total Non-Current Assets |
|
730.412 |
664.563 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
95.000 |
65.000 |
|
(b) Inventories |
|
303.843 |
301.355 |
|
(c) Trade receivables |
|
391.858 |
406.548 |
|
(d) Cash and cash
equivalents |
|
26.788 |
29.038 |
|
(e) Short-term loans and
advances |
|
49.928 |
44.006 |
|
(f) Other current assets |
|
1.602 |
1.675 |
|
Total Current Assets |
|
869.019 |
847.622 |
|
|
|
|
|
|
TOTAL |
|
1599.431 |
1512.185 |
PROFIT
& LOSS ACCOUNT [CONSOLIDATED]
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
994.241 |
924.783 |
|
|
Other Income |
|
70.029 |
15.835 |
|
|
TOTAL |
|
1064.270 |
940.618 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
429.331 |
430.657 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
5.824 |
6.029 |
|
|
Employees benefits
expense |
|
310.277 |
283.065 |
|
|
Other expenses |
|
216.102 |
195.060 |
|
|
TOTAL |
|
961.534 |
914.811 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
102.736 |
25.807 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
38.094 |
8.870 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
64.642 |
16.937 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
50.692 |
38.835 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
13.950 |
(21.898) |
|
|
|
|
|
|
|
Less |
TAX |
|
2.560 |
(11.992) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
11.390 |
(9.906) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
4.77 |
(4.14) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONS AND STATE OF
THE COMPANY’S AFFAIRS
For the year, the market had remained generally static and did not grow as initially expected. Despite such depressed market, the Heavy Engineering Division together with Geared Motors/ Gear Boxes Division achieved a growth of 6% and the revenue from operations (excluding other operating revenue) for the year increased to INR 971.600 million from INR 916.400 million of the previous year.
For the year, the Company has made a profit of INR 10.645 million as against a loss of INR 7.810 million in the previous year.
The products of Building Material Division introduced in the market, during the year, received excellent response from a number of large builders and construction houses. This being the first year of market exposure of the products of this Division and on account of severe slowdown of the construction industry segment in the last two quarters of the year, the business of Building Material Division did not grow as expected.
FUTURE OUTLOOK
The capital goods market in steel, mining, sugar and various other industries, where the Company is active, has
started improving and this trend is expected to continue. The Company expects the business in these segments
to grow favourably in the coming years.
They had reported last year about the launch of the Flip Flop Screening Machine manufactured in collaboration with FLEXIMAT Ges.m.b.H., Austria. This product has been well received in the market and in the year, the Company has successfully executed a number of contracts for this machine. The performance of this Screening 3 Machine has been excellent and the Company expects strong growth in demand for this product in the current and subsequent years.
The Company has also started exporting direct force exciters to the Chinese market and has entered into a long-term agreement with a leading screen manufacturing company from China. Under this agreement, the Company shall supply these exciters for screening machines manufactured by the Chinese company. The Company also expects significant business growth from this association.
The business in the construction industry has started improving and as a result of this, the business for Building Material Division is also expected to grow in the current year.
The Government of India’s focus and major investment plans for infrastructure and urbanisation programmes is expected to accelerate the growth of this sector. This will have a positive impact on this business segment of the Company.
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT
1. INDUSTRY STRUCTURE
AND DEVELOPMENTS
The Company operates through 3 operating divisions mainly – Heavy Engineering, Gear Box and Geared Motors and Building Material Divisions.
The market remains sluggish for the products for Heavy Engineering Division which is mainly in steel, mining, sugar, cement and power sector, and correspondingly the business of this Division did not grow appreciably as initially expected.
The business of Bauer Division which supplies equipment to various machine builders and OEMs grew during the year by around 23%.
The business of Building Material Division which came into production last year is still in its initial stages and, therefore, could not contribute significantly to the overall business in the year.
The expansion of business activity in new areas such as water and waste water management, road construction machinery, etc. is expected to ensure stronger business growth of gear box and geared motor division.
OUTLOOK
The capital goods market in steel, mining, sugar and various other industries, where the Company is active, has started improving and this trend is expected to continue. The Company expects the business in these segments to grow favorably in the coming years.
The Company, in the recent past, has expanded the market base by introducing new products coupled with a robust marketing strategy.
The Flip Flop Screening Machine launched recently by the Company in collaboration with FLEXIMAT Ges.m.b.H., Austria, has been well received in the market and in the year, the Company has successfully executed a number of contracts for this machine. The performance of this Screening Machine has been excellent and the Company expects strong growth in demand for this product in the current and subsequent years.
Mozer Process Technology Private Limited (MPTPL), the Company’s Joint Venture Company with Allgaier Werke GmbH, Germany, formed for the purpose of marketing, commissioning and servicing of Mozer Type Dryers, has executed its first couple of orders and these products have been supplied to some highly reputed companies in India. This was a major breakthrough and will create excellent references for future business.
The new Building Material Division of the Company for manufacture of high quality Dry Mix Mortar/ Dry Mix Products at Ajmer, Rajasthan, is also expected to grow in the future years as a result of the improvement in the business of the construction industry and the Government of India’s focus on and major investment plans for the infrastructure, urbanization and affordable housing programmes.
The expansion of business in new areas such as water management, road construction machinery, etc. undertaken by the Company in the recent past for the Gear Box and Geared Motors Division is expected to support the business growth in this area.
The Company expects significant contribution from all these products in the future years.
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
G40778458 |
100089236 |
UCO Bank |
30/03/2017 |
- |
15000000.0 |
FCC-IEP Branch 2, India Exchange Place, Kolkata-700001, West Bengal, India |
|
2 |
C81308066 |
10612597 |
AXIS BANK LIMITED |
23/12/2015 |
19/02/2016 |
150000000.0 |
Corporate Banking Branch (CBB) 1, Shakespeare Sarani, 3rd Floor, AC Market, Kolkata-700071, West Bengal, India |
|
3 |
C55366264 |
10572774 |
KOTAK MAHINDRA BANK LIMITED |
20/05/2015 |
- |
180000000.0 |
27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India |
|
4 |
C81309627 |
10202956 |
AXIS BANK LIMITED |
08/02/2010 |
19/02/2016 |
100000000.0 |
Corporate Banking Branch (CBB) 1, Shakespeare Sarani, 3rd Floor, AC Market, Kolkata-700071, West Bengal, India |
|
5 |
G34175943 |
10025981 |
UCO Bank |
17/11/2006 |
06/01/2017 |
302500000.0 |
Flagship Corporate IEP Branch 2, India Exchange Place, Kolkata-700001, West Bengal, India |
|
6 |
G34175984 |
90252952 |
UCO Bank |
16/02/2005 |
06/01/2017 |
452500000.0 |
Flagship Corporate IEP Branch 2, India Exchange Place, Kolkata-700001, West Bengal, India |
|
7 |
Z00043521 |
80012012 |
UTI BANK LIMITED |
18/11/2004 |
10/10/2006 |
225000000.0 |
Kolkata Main Branch, 7, Shakespeare Sarani, Kolkata-700071, West Bengal, India |
|
8 |
B64033228 |
90254294 |
UCO BANK |
20/01/2004 |
29/11/2012 |
30000000.0 |
MCU, Kolkata Main Branch 10, B. T. M. Sarani, 1st Floor, Kolkata-700001, West Bengal, India |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Outstanding Bank Guarantees |
7.586 |
7.513 |
|
Total |
7.586 |
7.513 |
STANDALONE UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER ENDED AND HALF YEAR ENDED SEPTEMBER 30, 2017
(INR In Million)
|
Particulars |
Quarter ended |
Half year ended |
|
|
|
30.09.2017 |
30.06.2017 |
30.09.2017 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
INCOME FROM OPERATIONS |
|
|
|
|
Net Sales |
277.003 |
121.329 |
398.332 |
|
Other Operating Income |
(1.735) |
17.093 |
15.358 |
|
Total
Income from Operations |
275.268 |
138.422 |
413.690 |
|
|
|
|
|
|
EXPENSES |
|
|
|
|
Cost of materials consumed |
105.021 |
100.254 |
205.275 |
|
Changes in inventories of finished goods and
work-in-progress |
26.335 |
(72.429) |
(46.094) |
|
Employee benefits expense |
85.276 |
80.349 |
165.625 |
|
Finance costs |
9.908 |
10.583 |
20.491 |
|
Depreciation and Amortization expenses |
13.198 |
13.148 |
26.346 |
|
Other Expenditure |
52.040 |
51.494 |
103.534 |
|
Total
Expenses |
291.778 |
183.399 |
475.177 |
|
Profit
/ (Loss) before Tax |
(16.510) |
(44.977) |
(61.487) |
|
Tax Expense |
(3.783) |
(1.203) |
(4.985) |
|
Profit
/ (Loss) after Tax |
(12.727) |
(43.774) |
(56.502) |
|
Other
comprehensive income |
|
|
|
|
Items that will not be reclassified to profit or loss |
(0.556) |
(0.556) |
(1.112) |
|
Income tax relating to items that will not be reclassified
to profit or loss |
0.172 |
0.172 |
0.344 |
|
Total
comprehensive income for the period |
(13.111) |
(44.158) |
(57.270) |
|
Basic
and Diluted EPS (in INR) |
(5.33) |
(18.31) |
(23.64) |
SEGMENT WISE REVENUE,
RESULTS, ASSETS AND LIABILITIES
(INR In Million)
|
Sr. No. |
Particular |
Quarter ended |
Half year ended |
|
|
|
|
30.09.2017 |
30.06.2017 |
30.09.2017 |
|
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
1. |
Segment Revenue |
|
|
|
|
|
Mineral and material processing and handling equipment |
162.898 |
50.450 |
213.348 |
|
|
Geared motor and gear box |
109.193 |
65.465 |
174.658 |
|
|
Building material |
10.230 |
8.826 |
19.056 |
|
|
Total |
282.321 |
124.741 |
407.062 |
|
|
Less : i. Inter
segment transfer |
5.318 |
3.412 |
8.730 |
|
|
Net revenue from
operations |
277.003 |
121.329 |
398.332 |
|
|
|
|
|
|
|
2. |
Segment Result |
|
|
|
|
|
Mineral and material processing and handling equipment |
50.057 |
18.994 |
69.051 |
|
|
Geared motor and gear box |
2.266 |
(9.427) |
(7.161) |
|
|
Building material |
(12.474) |
(15.311) |
(27.785) |
|
|
Total |
39.849 |
(5.744) |
34.105 |
|
|
Less : i.
Finance costs |
9.908 |
10.583 |
20.491 |
|
|
ii. Other Un-allocable expenditure net off un-allocable income |
46.451 |
28.650 |
75.101 |
|
|
Total Profit/(Loss)
before tax |
(16.510) |
(44.977) |
(61.487) |
|
|
|
|
|
|
|
3. |
Segment Assets |
|
|
|
|
|
Mineral and material processing and handling equipment |
489.748 |
469.158 |
489.748 |
|
|
Geared motor and gear box |
327.132 |
302.438 |
327.132 |
|
|
Building material |
345.338 |
342.726 |
345.338 |
|
|
Unallocated/corporate assets/liabilities |
391.990 |
411.427 |
391.990 |
|
|
Total Segment
Assets |
1554.208 |
1525.749 |
1554.208 |
|
|
|
|
|
|
|
|
Segment Liabilities |
|
|
|
|
|
Mineral and material processing and handling equipment |
160.970 |
139.111 |
160.970 |
|
|
Geared motor and gear box |
103.837 |
73.165 |
103.837 |
|
|
Building material |
27.512 |
32.088 |
27.512 |
|
|
Unallocated/corporate liabilities |
34.566 |
34.806 |
34.566 |
|
|
Total Segment
Liabilities |
326.885 |
279.170 |
326.885 |
STANDALONE STATEMENT
OF ASSTES AND LIABILITIES
(INR In Million)
|
SOURCES OF FUNDS |
|
|
30.09.2017 (Unaudited) |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
23.903 |
|
(b) Reserves & Surplus |
|
|
884.181 |
|
(c) Pending Call Money |
|
|
0.000 |
|
Sub-total Shareholders’ |
|
|
908.084 |
|
|
|
|
|
|
(2) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
164.511 |
|
(b) Deferred tax liabilities (Net) |
|
|
12.521 |
|
(c) Other long term liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
10.165 |
|
Sub-total of Non-Current
liabilities |
|
|
187.197 |
|
|
|
|
|
|
(3)
Current liabilities |
|
|
|
|
(a) Short
term borrowings |
|
|
79.360 |
|
(b) Trade
payables |
|
|
174.430 |
|
(c) Other
current liabilities |
|
|
200.707 |
|
(d) Short-term provisions |
|
|
4.430 |
|
Sub-total of Current liabilities |
|
|
458.927 |
|
|
|
|
|
|
TOTAL |
|
|
1554.208 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
i) Tangible asset |
|
|
474.804 |
|
ii) Intangible asset |
|
|
5.456 |
|
iii) Capital work-in-progress |
|
|
7.591 |
|
(b)
Non-Current investments |
|
|
89.272 |
|
(c) Deferred
tax assets (net) |
|
|
0.000 |
|
(d) Long
term loans and advances |
|
|
0.000 |
|
(e) Other non-current
assets |
|
|
67.644 |
|
Sub-total of
Non-Current Assets |
|
|
644.767 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
147.067 |
|
(b)
Inventories |
|
|
368.907 |
|
(c) Trade
receivables |
|
|
259.117 |
|
(d) Cash
and cash equivalents |
|
|
40.291 |
|
(e)
Short-term loans and advances |
|
|
0.000 |
|
(f) Other
current assets |
|
|
94.059 |
|
Sub-total of
Current Assets |
|
|
909.441 |
|
|
|
|
|
|
TOTAL |
|
|
1554.208 |
FIXED ASSETS:
Tangible Asset:
- Land
- Building
- Plant and
equipment
- Furniture and
Fixture
- Computer
- Office
equipment
- Electrical
Installation
- Vehicles
Intangible Asset:
- ERP Software
- Autocad Software
- Patent
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 64.16 |
|
UK Pound |
1 |
INR 89.19 |
|
Euro |
1 |
INR 78.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
KAM |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
BHG |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.